Latest Stocks: Teekay Tankers Ltd. (TNK) Stock Rating Lowered by ValuEngine

Latest Stocks: Teekay Tankers Ltd. (TNK) Stock Rating Lowered by ValuEngine

Teekay Tankers Ltd. (NYSE:TNK) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

TNK has been the topic of a number of other research reports. Zacks Investment Research upgraded Teekay Tankers from a “sell” rating to a “hold” rating in a research report on Saturday, February 4th. Credit Suisse Group AG reiterated a “neutral” rating on shares of Teekay Tankers in a research report on Wednesday, February 22nd. Finally, Bank of America Corp reiterated an “underperform” rating and issued a $1.80 price objective (down previously from $2.25) on shares of Teekay Tankers in a research report on Wednesday, May 17th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Teekay Tankers currently has an average rating of “Hold” and an average price target of $2.59.

Teekay Tankers (NYSE:TNK) opened at 1.81 on Friday. The firm has a market cap of $297.48 million, a PE ratio of 10.71 and a beta of 2.48. Teekay Tankers has a 12-month low of $1.80 and a 12-month high of $3.84. The stock’s 50 day moving average price is $1.98 and its 200-day moving average price is $2.24.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Thursday, May 18th. The shipping company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by $0.02. Teekay Tankers had a return on equity of 1.22% and a net margin of 2.26%. The business had revenue of $125.10 million during the quarter, compared to analysts’ expectations of $95.97 million. During the same quarter last year, the business posted $0.29 EPS. The company’s quarterly revenue was down 24.2% on a year-over-year basis. Equities research analysts anticipate that Teekay Tankers will post $0.02 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Shareholders of record on Monday, May 29th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, May 24th. This represents a $0.12 dividend on an annualized basis and a yield of 6.63%. Teekay Tankers’s payout ratio is 17.14%. A number of large investors have recently added to or reduced their stakes in TNK. James Investment Research Inc. increased its stake in Teekay Tankers by 0.5% in the first quarter. James Investment Research Inc. now owns 319,330 shares of the shipping company’s stock worth $655,000 after buying an additional 1,540 shares during the last quarter. Muhlenkamp & Co. Inc. increased its stake in Teekay Tankers by 3.3% in the third quarter. Muhlenkamp & Co. Inc. now owns 50,695 shares of the shipping company’s stock worth $128,000 after buying an additional 1,620 shares during the last quarter. American International Group Inc. increased its stake in Teekay Tankers by 7.0% in the first quarter. American International Group Inc. now owns 71,726 shares of the shipping company’s stock worth $147,000 after buying an additional 4,720 shares during the last quarter. Loews Corp increased its stake in Teekay Tankers by 10.4% in the fourth quarter. Loews Corp now owns 68,190 shares of the shipping company’s stock worth $154,000 after buying an additional 6,400 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in Teekay Tankers by 4.9% in the fourth quarter. Teachers Advisors LLC now owns 217,200 shares of the shipping company’s stock worth $491,000 after buying an additional 10,163 shares during the last quarter. Institutional investors and hedge funds own 44.98% of the company’s stock.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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